Entor onth All sales of Tammy's Jeans and Uniforms (TJU) are made on credit. Sales are billed twice monthly, on the fifth of the month for the last half of the prior month's sales and on the twentieth of the month for the first half of the current month's sales. For accounts paid within the first 10 days after the biling date, TJU gives customers a 1% discount, otherwise the full amount is due within 30 days of the billing date, and customers that do not pay within the 10 day discount period generally wait the full 30 days before making payment. Based on past experience, the collection experience of accounts receivable is E (Click the icon to view the collection experience.) (Click the icon to view the sales budget) TJU's average markup on its products is 45% of the sales price. TJU purchases merchandise for resale to meet the current month's sales demand and to maintain a desired monthly ending inventory of 20% of the next month's cost of goods sold. All purchases are on credit. TJU pays for one-half of a month's purchases in the month of purchase and the other half in the month following the purchase. All sales and purchases occur uniformly throughout the month Read the requirements. July collections May salos billed June 5 June sales billed June 20 June sales billed July 5 July sales billed July 20 $ 100,800 96,000 297.000 348.975 equi S 842 775 Total July collections ms Requirement 2. Compute the budgeted dollar value of TJU inventory on May 31, 20x8 Required inventory x Cost of goods sold Required inventory 20 % Sllowini ant for Choose from any list or enter any number in the input fields and then click Check Answer. Check Answer bord Clear A Tuto 2 parts remaining STRU average markup on its products is 45% of the sales price TJU purchases merchandise for resale to meet the current month's sales demand and to maintain a ed monthly ending inventory of 20% of the next month's cost of goods sold. All purchases are on credit. TJU pays for one-half of a month's purchases in the month archase and the other half in the month following the purchase. All sales and purchases occur uniformly throughout the month Data Table - X D * Data Table - X Sales for May 20X8 were $840,000. The forecast sales for the next 4 months are n 75 % June $ 800,000 Within the 10 day discount period At 30 days after billing Uncollectible 24 % 1 % July August September sta 940,000 900,000 660,000 eal 20% Print Done Print Done